Veritas eyes double-digit growth in Malaysia
By Goh Thean Eu March 23, 2016
- Despite economic doldrums, growth to be driven by core products
- Company expects exponential data growth to drive demand
INFORMATION management solutions provider Veritas Technologies believes its business in Malaysia can grow by double-digits this year, even though enterprises are looking at ways to cut spending in light of the slowing global economy.
“We are expecting double-digit growth in terms of revenue and bottom-line,” Veritas Malaysia country director Josephine Hoh (pic above) told a recent media briefing in Kuala Lumpur, without giving specific figures.
The Malaysian economy has not been spared the global doldrums. Earlier this year, the Government estimated that the economy will grow at 4-4.5% in 2016, slightly lower than the 5% growth projection it made in the fourth quarter of last year. In 2015, the economy grew 5%.
Globally, the International Monetary Fund (IMF) said that it is likely to lower its 3.4% growth estimates for 2016.
Veritas is cognisant of this challenge.
“Because of the global economic situation, we are working very closely with our customers to see where we can help them in terms of costs,” said Hoh.
“Everybody is looking at cutting down operating expenditure (opex) and capital expenditure (capex),” she added.
Still, Hoh was confident that Veritas would be able to absorb the worst of it.
“With the amount of data growing at an exponential rate, the demand for our solutions is expected to remain encouraging,” she said.
Veritas’ “close relationship” with its customers would also play an important role. “They actually come to us for advice – we are always in the early phase of the discussion if there are any new projects that they are embarking on.
“It gives us a feel of what their investment pipeline is like and how we can help them,” she declared.
Meanwhile Veritas director of technical sales and services in Asean, Vic Cienca (pic), said that the company is constantly listening to and addressing customer demands.
“One of the things we did was to introduce capacity licensing to our customers. Previously, we needed to count each and every single server, every application, every tape drive that they had,” he said.
“Now, we don’t have to count the number of servers they have anymore – it is the amount of data we are protecting. No matter how many servers they have, as long as it is within the capacity, we will protect it,” he added.
More focused now
Beyond that, Veritas’ double-digit growth expectations for Malaysia will mainly be driven by its core storage management products, according to Hoh.
These include its NetBackup, InfoScale Availability, NetBackup Appliances, and others.
Earlier this year, Veritas was separated from the Symantec Group, and is now part of the Carlyle Group, a global private equity firm.
Not much has changed in terms of the team at Veritas Malaysia: “It is still the same team, and it is all intact,” said Hoh.
“However, in terms of future direction, we are now much more focused.
“Backed by a very strong Carlyle Group, we are really reaching out to the top companies around the world. It has helped us to reach out to more customers,” she added.
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